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" with liz claman. liz: the fiscal cliff talk is everywhere, always good to be hearing about lately, but is there really something else that can be bubbling under the surface that could send the market into a tailspin that we should be talking about now? join me in a fox business exclusive, 2003 nobel laureate in economics and nyse will institute director. he has a whole institute for volatility. spotting risk. we thought let's bring you in and talk about noo the fiscal cliff of the three hidden risks people should be talking about but aren't. how did you identify them? >> there are lots of things people worry about, but which of the really big ones and what kind of a timefram time frame ae talking about? decade?out next week or next we talk about the big risk to have to look further in the future. liz: the next year or so? 20 years, 50 years perhaps. number three. you say it's all the unfunded pension liability risk globally, how is that a hidden risks? >> there are pension funds like social security which are not well funded in the future, that is one of the big topics of the fisc
of these fiscal cliff talks that are causing such volatility in the market here? >> well, bill, as you said, we are long-term investors. we really don't find ourselves wanting to move things around that much. >> you're not playing these swings here? you don't buy on dips? >> we're not playing the dips and selling the volleys. >> are you expecting that we will be able to get into this market as better prices at lower prices at some point before year end? >> that would be a very short-term question. i don't know the answer to it. >> and you're not a short-term guy. >> eric, what about you? how are you allocating capital these days? >> you know, we're allocating capital much the same way we have been doing for the last few months, which is thinking, again, sort of long term like was just said. you can do things around the fringes, but they have to be, you know, considered a small move rather than something aggressive. we still don't have enough answers to know what the ultimate outcome is going to be. >> mark, what about you? you know, we tend to oversimplify. right now the feeling is resolution t
on unemployment benefits. 50 billion and in the of fiscal cliff talkings. this is it a number that nides to be addressed. ist tha strong that we end this much money on unemployment benefits. the stupidity of it the guy in the white house had four years to turn it around. he hasn't done it it is idiotic. you have four years and you were begin a man date and why haven't you brought down the rate of unemployment. because they all believe in economics and believe that spending makes everybody happy and makes everybody have a profit. wrong. it is not tha >> they would say they have done something. he passed out all of the unemployment benefits. you say 50 billion it is 520 billion in emergency benefits. that is 520 billion and i don't know not invested in jobs and creating new enterprizeses and redistributed and ultimately destroyed. >> christn, to tracey's point. we have them come on and say they want to hire and they're afraid to hire . it is regulation and other issues. is is behais going to build the other economy. it will create those jobs. >> it is not happening fol. we don't have a sit
on the fiscal cliff. i will talk to the former cabinet secrary who says going over the fiscal cliff is better than getting a bad deal. >>> the auto industry is back. what it is doing right even in a soft economy. weill find out what is driving profitability. >>> and curtains up on the billion dollar w women who made the lion roar. my conversation with julie taymor. >> it's made 4 to $6 billion no no one complained about it. >> >> "wall street journal report" begins right now. >> this is america's number one financial news program "wall street journal report."" no now, maria bartiromo. >> here's a look at what is making news. some surprisgly good news about america's economy. the labor department says 146,000 new jobs were created in november. much better than economists' expectations. the unemployment rate drop theed 2/10 of a percent now at 7.7%. the best number since december of twachlt the labor department says superstorm sandy had little affect on those numbers. >>> the markets continue their familiar pattern of following the latest word or words or hopes on the fiscal cliff. no major mov
. at a time we're talking about raising taxes and the fiscal cliff and what financial problems we're in this country, i read these numbers i want to tear my heart out. how do you feel? >> melissa, it is worse than that. in '09 he had the navy pay $424 a gallon for 20,000 gallons. that is fuel on the market you could buy for $3 a gallon. $424 a gallon. in mind, this president has had a war on our defense system. he disarmed america. he has done away with our brigade combat teams, our ships, our f-22s, c-17s, future combat systems. he uses the excuse. no, i have not reduced the budget for the defense. but what he has done, melissa is move his green agenda into the, under the defense so we're paying for all this. now, senator mccain and i took this out. we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor
away from tree to be event, up 109 points. john boehner taking fiscal cliff talks and that is raising hopes among traders. cheryl: we are going to take a look at what is beyond the fiscal cliff even of washington save the country from going over that cliff we have a stock panel that has lots of worries and a bit of hope that. dennis: which makes some buzz codes when the dow is up 111. michigan's capital and besieged as protests over the right to work legislation has taken an ugly turn. we are live. cheryl: never know what is going to happen with jeff flock covering that story. we're coming up on the top of the hour. stocks every 15 minutes and nicole petallides on the floor of the stock exchange with a nice triple digit gain. nicole: what a gain on wall street. we have three straight weeks of gains to new recent highs. looking at 13,300 on the dow jones industrial, that is good and the s&p 500 calm, holding above the 1400 mark. they were worried when we were breaking down below and we are continuing the trend to the upside. one of the reasons is europe, europe has been a break out and
to the 88-89 level. the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the fiscal cliff starts getting resolved, you will see some buying going on. cheryl: bobby, i want to go back to you about europe. we have not had a lot of problees. seems like the greeks are kind to getting things. >> the last few days, europe markets have been pretty strong. as you said, a sleeping giant. cheryl: i do not want to see anything change. it has been nice. gentlemen, thank you. i appreciate it. great floor show today. uncertainty seems to be the norm in washington these days. last year you have the debt ceiling convey. congress had trouble putting together a deal. now the u.s. may
fiscal cliff talks with the white house. on capitol hill for one day at least, all was pretty quiet. posturing and finger pointing kind of stopped. cnn political reporter shannon travis joins us now live from washington. what's the the latest on the talks or the silence? >> the silence seems to be golden, john. remember last week when all the players involved seem to be posturing and positioning and talking about negotiations? not so much, at least in the past few days. we know president obama and house speaker john boehner had a one-on-one meeting, right, on sunday, their first since mid-november. what were the details from that meeting and from the ongoing discussions? they're not really -- both sides are not really being forthcoming with what the substance of those conversations, both sides yesterday, the white house and the republican leadership put out statements. they're essentially the same. i'll read just one from boehner's press secretary. discussions with the white house are taking place but we have no detail to share about the substance of those conversations. the republi
should be in trouble with the law. is the season for giving, but don't let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. our experts shares tips on what you need to know. we are on the case next on "the willis report". ♪ gerri: big changes coming to tech giant ibm that may change the way you ave for ♪ gerri: there is the story out there not getting a lot of attention today that you need to hear abou particularly if you care about your retirement. ibm overhauling its retirement program. instead of contributing to its employees 401(k) over time,he company will opt to contribute a lump-sum payment once per year. this may not sound like a big change, but the move undermines the very idea of retirement savings. look, the attraction of a fox business is the idea that you leveled out what you pay for in investments over time. stock prices go up, they go down, but over time you average out your risks and your cost. i call it dollar cost averaging. but with ibm's new plan, the advantage of its lead disappears. this would not be such a big deal,
. is the season for giving, but don't let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. our experts shares tips on what you need to know. we are on the case next on "the ♪ [ male announcer ] how could switchgss in argentina, change engineering in dubai, aluminum production in south africa, and theerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidedence. request a prospectus or summary prospectus with investment information, risks, feesnd expenses to rd and consider carefully before investing. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride get the mercedes-benz on your wish list at the wint event going on now through december 31st. [ santa ] hoho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local merces-benz deale ♪ gerri: big changes coming to tech giant ibm that may change the way you save for ♪ gerri: tre is the story out
actually learn a lesson from florid next, how hrry's could be the latest victim in the fiscal cliff talks. the esident of the united way joins next. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn'tay all my medical expenses, looked at my options. then i got a medare supplement i insance plan. [ male aouncer ] if you're eligle for medicare, you may know it only covers about 80% of youpart b medical expenses. the rest is s up to you. callow and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardizemedicare pplement plans it helps pick up some of what medicareoesn't pay. and could save you thousds in out-of-poet costs. to me, relationships matter. i've been with my doctor for 12 years. now i know il be able to stick with him. [ male announcer ] with these types of plans, you'll be able to visit any doctor or hospital that aepts medicare patients. plus, ere are no networks, and you never need a referral to see a specialis so don't wait. call now and request this free
will see. robert, as always, thank you very much. dagen: a new development in the fiscal cliff talks. it could include an overhaul of the corporate tax code. with reaction, let's bring in congresswoman loretta sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can come up with a deal. and, secondly, if speaker boehner has enough votes to have enough people vote for it. dagen: we have heard from senator harry reid once again. if the democrats do not get the tax increase on wealthy americans that he is willing to go over the cliff, the end of the year. we are awfully close. >> remember that congress always has the ability to set a new set of tax rates. even if we went through december 31 and these rates went away and everybody's taxes increased, honestly, some more than others,
.com. >> this is a test. >> washington fiscal cliff talks raising billions of dollars in november compared to the previous month. it is up, believe it or not, $1.1 trillion coming year-over-year. will this put pressure on the white house and congress to put big spending cuts on the table? let's ask scott garrett of new jersey and vice-chairman of the budget committee. $1.1 trillion deficit for 2012 budget. that is just not there. >> it is not good. i understand that you're going to have a marriage counselor? [laughter] so i assume the answer is that one of the issues that lead to a breakup is right overspending. that's what we have here. tracy: we are dying to know why we can't get this figured out. >> well, just as in marriage, to solve the problem on spending some you have to sit around a the kitchen table and get open the checkbook. i guess that is the exact same thing that needs to be going on here in washington. speaker boehner has been trying to do that. the money is just flowing out, we will continue to talk about the legislature and the president has not come to the kitchen table with a real plan.
that goes. you don't get it. all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with charles payne. this hour he is looking at online networking site linked in. getting a little bounce, but has been on a tear. charles: this is a incredible stock. you put six flights out of business. i'm telling you right now. today part of the reason it is up, kind of odd, some sort of stock speculation mayor bloomberg may be interested in doing something, taking it over. even without that, this is a stock i like a lot. at least the third time this year my subscribers are in a stock. the latter earning report my two cents coby district by 100%, the stock finally looked
. lori: and now "gangnam style." alan simpson briiging fiscal cliff talks to a whole new level. neil cavuto is up next with his trademark move. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. relieving the pain quickly. i have obligations. cute tobligations, but obligatio.ing. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishas core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for tir etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. melissa: it is time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange. our own nicole petallides standing by. watc
be in trouble wi the la. is the season fo giving, but don't let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. our experts shares tips on what you need to know. we are on the case next on "the we are on the case next on "the willis report". this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! ♪ gerri: big changes coming to tech giant ibm that may change tech giant ibm that may change the way you save for  - ♪ 'cause people got me estioning ♪ ♪ where is the love - ma'am. you forgot your purse. - thank you. oh. thank you very much. - a message from the foundation for a better life. ♪ gerri: there is the story out there not
cliff talks collapse entirely. it would be quite simple. house republicans would allow a vote on extending the bush middle class tax cuts. that bill already passed in august in the senate. and offer the president nothing more. no extension to the debt ceiling, nothing on unemployment, nothing on loopholes. congress would recess for the holidays and the president would face a big battle early in the year over the debt ceiling. ." two republican officials tell me this is becoming the most likely scenario. "the new york times" added more detail including this amazing quote from rep michael c. burgess of texas. "there's always better ground, but we have to get there." in this case the better ground is exchanging the threat of a congressionally induced recession for the threat of a congressionally induced global financial crisis combined with recession. that, that is your better ground? that's a big plan? it's not -- it's not better ground for the economy. and, frankly, i find it difficult to see how it's better political ground even for the gop. i figured, i didn't get it. so i fi
the fiscal cliff? >> they are looking out what is right in front of them. we talked about this before. this is the first crack we have seen in sentiment. in the response and half of them, half of them unsolicited said they have been hearing about higher taxes. i do think with all of the media coverage of the fiscal cliff, consumers are starting to recognize that there is something going on. i think people are more aware. i still think those people feel like something will get done at the last minute. i think they are aware that there are some risks out there. melissa: michelle, you are fantastic. thank you so much. >> thank you. take care. adam: some people think investing sometimes is too good to be true. what is the government's (in nailing steve cohen? charlie: i do not think people are focused on the fiscal cliff. they will not be focused until you see the market sell off. the market believes there will be a deal. until the market trade-off -- adam: we have a guest who will be talking about that a little later on as we get closer to the end of the year. the investigation is still
the trading for the week. fiscal cliff talks and a reserve meeting midweek could shift the markets, bri markets,. ringing the opening bell at the exchange, the financial services company blackrock. >>> hugo chavez returns to cuba to undergo another cancer operation. chavez left in the middle of the night just a day after telling his country the cancer was back. in is his fourth surgery since being diagnosed with cancer last year. >>> today former south african president nelson mandela is facing a day of medical tests in the hospital. the 94-year-old has suffered health problems in recent years. the nation's current president says mandela is doing well but offered no details on his condition. mandela is a nobel laureate who fought against racial segregation. >>> former republican presidential candidate newt gingrich isn't sounding too optimistic about his party's chances about winning back the white house in 2016, especially if it stays in its current form. in fact, gingrich thinks it's almost impossible if one particular candidate wins the democratic nomination. take a listen. >> if the
here. always great to talk to you. >> thank you. lou: george gilder. much more on the fiscal cliff and the republican messaging, if you can call it that, perhaps tonight's broadcast. he egyptians revolting against the brotherhood. syria apparently mixing chemical weapons. the foundation for defense of democracy joins us here in moments. the unemployment rate drops. so did the number of workers in the labour force. we will be taaking about this economy and what washington is trying to do to it and us next with peter wallace and. ♪ the catal one cash rewards card gives you 1% cash back on all purches, plus a 50% annl bonus. and everyone likes 50% more... [ midwestern/chicago accent ] cheddar! yeah! 50 percent more [yodeling] yodel-ay-ee-oo. 50% more fla. [ southern accent ] 50 percent more tars. that's where tots come from. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% aual bonus on the cash yoearn. it's the card for people who like more cash. 50% more spy stuff. what's in your wallet? this car is too small. ♪ lou: house
understand why we aren't. lou: on this broadcast we never talk aut the fiscal cliff without referring to the incipient aus there rid of it all, and that is why i believe it is entirely appropriate told the president accountable for the fiscal cliff because this is the only bullish and work here. it is this president who has decided to issue an ultimatum. first on taxes and being raised on only 2 percent of the people. secondly, insisting that the debt ceiling issue be compounded with it all. this is without question an ultimatum, the consequences are his. what do you think? >> well, i am afraid that eve though the consequences are his, the consequences for the economy will be his. think he is betting, think there is pretty good evidence right now that he is betting that he can win this argument because the media and his megaphone enable him to persuade the american people that the republicans will be the cause of the troubles that we will face if we go over the cliff. lou: history is littered with examples of those to proceed and rationally so but came up against creative, energetic
reid about the lack of progress on the fiscal cliff talks really put the brakes on today's rally. at the close we saw the dow gaining 78 points. the s&p adding 9 points. the nasdaq up 35. that's it from cnbc, first in business worldwide. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions
talking to her about the fiscal cliff, she gets an e-mail. >> yeah! my interview. great. okay. that's good news. >> reporter: a third interview for a sales job. if washington can't do it, maybe this job will pull her back from the cliff. >> oh my god. i can't believe how excited i am right now. >> more than 500 years but the lady behind da vinci's smile is behind speculation. italian archaeologists might have found the missing link to the mystery of mona lisa. they've excavated remains which they think belong to the woman who modeled for the famous painting. ben wedeman reports from the excavation site. >> reporter: the smile has per perplexed for centuries. the mona lisa. in the frigid bowels of what was once a convent in florence, the television producer turned art researcher is leading a project to find and identify remains of the woman who posed for da vin economy more than 500 years ago. historical documents indicate this is the place where he's 15 de gherardini was buried. remains of five females were found here. the skull may be that of the second wife of a wealthy florence silk mer
. ashley: tough new talk on the fiscal cliff. americans are scratching their heads wondering when president obama will get serious. tracy: the president's reelection leaving small businesses weigh more pessimistic about the future. bill dunkelberg is here. we will ask him what, if anything, to boost confidence among america's job creators. ashley: time for stocks now as a do every 15 minutes. let's head down to the call petallides. nicole: this is a pretty good day on wall street. this is looking like the fourth week where we are seeing gains. we did hear from house speaker john boehner. he smoothed it over and gave the sense that they are working hard in washington in order to solve the fiscal cliff. also, the dollar is lower. that is playing a part. most of the dow components have been in the green. trip advisor. we are watching trip advisor. it has been rallying. what they are trying to do is get in there. it would be more about changing some management. liberty acquired the share. this is part of the action here we are seeing. off its earlier highs. back to you. ashley: thank you very m
as a nation. because this is a big deal, and we're talking about a fiscal cliff and great drama. if we stay on the same spending path, i thought i'd show you what happens if we change it to the boehner plan, the obama plan. let's start out with the do-nothing plan, because that's the plan we've got right now. the congressional budget office estimates our fiscal year 2013 deficit will be, well, $104 trillion for fiscal 2013, okay? and here's what happens to our national debt as a result of this baseline. it's going tt surge from $16.3 trillion to $17.5 trillion at 2013, then we get out here to about 2014, it's going to be, well, it's going to be about 19.4. 20.3 trillion, 20.3 trillion if we do nothing in 2016: and by 2022, out here, it's going to be $25.8 trillion. that's if we do nothing about this spending, this runaway spending, this irresponsible government. now let's take a look at what happens if president obama gets tough, and he gets it done. the president calling for $1.6 trillion in higher taxes. he wants $82 billion a year from that top 2%. by the way, that's the same amount of n
that is fair. about an hour after speaker boehner spoke this morning about the fiscal cliff ago she haitians. in case you missed it, a quick piece of that. >> if you look at the plant that the white house has talked about thus far, they could not pass either house. dagen: rich benson is here. he is joining us with the latest from d.c. >> i think you can tell where the president was heading with this. we know the president lied on this is the campaign to raise taxes on wealthier americans. he says it is all part of the budget that he has put out over the last few years. that budget calling for tax increases over the next decade on families earning more than $250,000 a year. he campaigned on march revenue less than that. tax deductions they can't, they just say they would not raise tax rates. that really has been the key to all of this. connell: we are kind of caught in the middle. you saw the president speaking on the screen while rich was speaking. the audio still is not quite right of it. thank you. there we go. citigroup. another big story today. the stock has been up. 11,000 people, thoug
't supposed to -- i see. >> okay. >> i got it. >>> mike duke did mention the fiscal cliff. we're going to talk about it now. death and taxes among the things we're talking about. will a higher dividend tax rate essentially kill taxpayers at every income level? joining us to talk about this and more on the fiscal cliff is thomas fanning, chairman, president, and ceo of electric giant southern company. how does a utility, tom, how do you prepare for the uncertainty surrounding the fiscal cliff and these washington issues? i guess it's -- you know, in the back of your mind, but you got to run a business, don't you? >> sure. look, we plan with uncertasrcer all the time. our whoerizeons are 30, 40 years. there are big time economic horizons going on. one of the thing we're a indicator of is the future health of the economy. what we have seen is first quarter this year was a really good quarter. second quarter was okay. third quarter went to a dead stop in terms of economic growth. at least in the southeast. we have over 300 projects sitting on the shelf representing about 45,000 jobs. $15 billion o
into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through we can't take it. if that meanstendin
talked about the possibility of a fiscal cliff, the market is selling off. i think that just discounting any probability we have a fiscal cliff, if we do, and negotiations brick down, then market i think will be way overpriced for the very difficult economy. we'll see in the first half of next year. lou: we might see it before the end of the year, if it is clear, this may be part of the game, they try to keep in am pickous to whether or not there will be a dial, that would be a slick portion of this negotiation. i do not know what to make of it. i do think this republicans are now incentivized to go over the cliff, and seek sequest raising sequestration in force. it gives republicans want they want, two-for-one spending cuts to tax hikes it gets intresting. >> it is, some of the commentary i've seen, suggestions that the president i talking about more x increases than spending cuts, that is -- >> 2 to 1. >> yeah contrary to the original agreement. lou: well imagine that. president turning things on its head, john silvio thank you. >> thank you. lou: and straightening us out. looking now
're also going to have to talk more about ben bernanke. if we go off the fiscal cliff, it shows the irony of how the feds balance sheets isn't addressing the problem. it isn't addressing unemployment. one hand of the government is trying to do something that isn't working and the other hand is shooting in the foot. i think this is going to be interesting listening to bernanke on wednesday. >> ben has already put it out there there's not a lot the fed can do if we go off the fiscal cliff. you speak to a lot of smart people, rick santelli. >> and he's a smart person as well. >> to feel it's going to be a year of strong dollar or weaker dollar. i ask this because so many companies during their latest earning season have pointed to the strong dollar as a real problem for them if they're a multinational. >> i think the relationship between all the developed countries using printing presses like the dollar, yen, euro, are close to levels and ranges we'll see next year. i think in some of the asian currencies we need to pay more attention to. you can only swim so far in a round pool without bang
a locomotive, if you will. and almost no one is paying attention to ias we focus on the fiscal cliff and what will be an agreement, ifs reached, at'll amou to something in the neighborhood of a couple trillion dollars >> and the forced union states are lookg for tte feral vernment to bail them out. but more important than that, the dems, the decrats don't want to lose the forced union states -- lou: well, i'm not talking about the fored union states now, i'm talking about every state in the union. and theact is that we're talking about unfunded ppnsion liabilities of $4 trillion, mallory. and -- >> but much worse in t forced unions. lou: excuse me, if i may finish. >> i'm sorry. lou: $4 trilliothat no one is paying attention to, how will it be resolved? >> it's tough to resolve, but it's much worse. e point i was trying to make is it' much worse the forced uniin states, much worse. it's almost double. that's one of the issues. we're going to have a big problem resolving that. it's going to be a major proem with services that are absolutely necessary not being able to ke up because of all th
the fiscal cliff. he'll talk at detroit diesel which is owned by germany's daimler, on extending middle class tax cuts for workers to keep pressure on republicans to cave on this issue, this after the president and speaker boehner met at the white house yesterday. a spokesperson for boehner says today, quote: discussions with the white house are taking place, but we have no detail to share about the substance of these conversations. he adds that republicans are waiting on specific spending cut proposals from the president to get a deal on the fiscal cliff. but a few republicans now say that maybe the best strategy for them is to accept some higher tax rate that is the president is demanding, get that off the table and then come back to entitlement reform early next year when the president asks for an increase in the debt ceiling. then republicans will have a little more leverage. >> there's a hardening on the republican side. we're not going to raise the debt ceiling. we're not going to let obama borrow any more money or any american congress borrow any more money until we fix this country fr
and house speaker boehner are talking, but there is still no word of progress on the so-called fiscal cliff or the president's ultimatum. silence indicate a deal in the works or something too ugly for them to contemplate?@ we'll have the latest for you from the white house. white house correspondent ed henry here in just moments, but, first, the money line in hoping washington might get a deal done driving a modestly bullish mood on wall street at the end of the session. investors cheering news in a decline in jobless claims, and household wealth in the country grew by $1.7 trillion, to the highest level in five years, talk about a positive indicator for consumer purchasing. the dow jones industrial up 40 points, the s&p up five, and nasdaq rose 15.5 points. volume? a billion shares lighter than yesterday, but above the average of 3.1 billion trading on the board today. apple rebounded from yesterday's worst date performance in four years, a gain of $8.45 today with the ceo saying apple will move imac computer production to the country in the new year. garmin stock higher to replace rr donl
, whether it's more salient right as the fiscal cliff where they're talking about digging their heels in to protect the one percent? their brand now is defending tax cuts for the top, very top, of our country. and, also, digging our heels in on things like gay marriage where people are now moving to the left. or on comprehensive immigration reform. or even on things like birth control that 99% of the electorate have used. it doesn't really matter what issue you're looking at. republicans are finding themselves being pulled far to the right. and part of that is whether you have folks who may challenge speaker boehner for the speakership. you also have folks that are going to primary around the country. >> let me ask this before i come out of time. one of the rising stars at the republican convention and being tallied for 2016 is chris christie, governor of new jersey. he sat down with barbara walters who began asking the hard questions he may face in 2016. listen to this. >> there are people who say that you couldn't be president because you're so heavy. what do you say to that? >> tha
the fiscal cliff and caterpillar's ceo joins us from the nyse to talk about the fix the debt campaign and more. you know anything we don't know, doug, that you can tell us about how this finally looks and whether we do it? >> i don't know if i know any more than you do or not, joe, but we've all been working hard to impress upon our leadership in washington how important this is not to go over the cliff. we had good sessions with republican leadership, democratic leaderships and with president obama in the white house. nobody over there wants to go over the cliff at this time, there's nothing that wants to do it. >> once we get over it, we hope it's a bridge to something that will help you and caterpillar compete better in the world. after the cliff, what do you want? is there any emphasis on corporate tax reform that we need or how to bring $2 trillion back to this country? aren't those things, did you talk about any of those or the cliff? >> we talked about all of those, long-term competitiveness for our country, immigration reform that needs to happen, and there's a lot of bipartis
boehner's office to reach a deal on the fiscal cliff. while talks continue privately between both, no public details of progression toward the compromise have been released. in the last hour, our guest, tony fratto who is the former press secretary and jerry bernstein agreed that we would likely get some sort of a deal, just perhaps not in a form that was widely expected. joining us right now is the first of many lawmakers we'll be speaking with today, texas congressman jeb hensarling who is also the incoming chairman of the house financial services committee. and mr. chairman, first of all, congratulations. >> thank you. good morning. >> good morning. thanks for being with us today. >> happy to do it. >> we hear all of this talk, we hear all the talk that's been leading up to this point. we know it's gone a little quieter at this point. maybe that's a good thing. i also know you've been pretty firm about this. you've said that elections do have consequences. the president is getting his revenues. now he's drawing a line in the sand when it comes to tax rates. do you agree to go a
away in lansing. let me ask you, jessica, the fiscal cliff is something we have been talked about each and every day here on cnn, the president met with the speaker of the house and am i correct, has it been about a year since the two of them had a one on one face to face, so what are we learning detailwise from the meeting? >> the bottom line is the status appears to remain at stalemate. the white house is eressing the view that the president believes it is still possible to get to a deal, but they want to hear more -- they want to hear specifics from republicans on revenue and they have not heard that. that's what the white house was saying before the deal -- before the meeting last friday they were saying this. the speaker's office is saying they still want to hear from the white house on more details on spending cuts, also that is what the speaker's office was saying before the meeting last friday. so the message today is exactly what it was last friday. the meeting happened yesterday. on sunday. so we are where we were. does that mean that nothing happened in the meeting? no, ther
much have they fixed? >> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they d they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> t extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles mak sense but if they don't happ it is an excuse. neil: it is peppered with good intention of leaders whose say stick to your end of the bargain. >> money has to be on the table. criminal defenseawyers they of front because they dot pay. [laughter] give mmy retainer. you can do when. republicans coulgive on the rate. 37 ha in return when the $1 tllion of spending cuts have been. what d the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be re cuts happening at the same time. neil: rudy guiliani. i am headed to whington to save us from t mess. be w
, and author and radio talk show host monica crowely monk the guests. stay with us, next talking the fiscal cliff and our assertion %-president obama.iff belongs to we'll be right back. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i reay need is sleep. inoducing the ishares core, building blocks for the heart of your portfolio. findut why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 100-ishares for a prospectus wch inclus investment objectives, risks, charges and expenses. read and consider it carefully beforenvesting. risk includes possle loss of principal. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. lou: well, some conservative critics blasting a detroit city councilwoman who says president obama owes the city a federal bailout. her re
the recovery in housing. remember that? we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
and these fiscal cliff concerns really mean for businesses and your money. jim aim most, chairman of tasti delight and plan net smoothie. we have the ceo of fastsigns. jamie richardson is the vice president of white castle. we have a power panel. thanks for joining us. i want to start with news from clarence otis, ceo of darden restaurants. obviously he came out of and said the forecast for his company going forward is looking very bleak. the negative media coverage focused on darden and how they might accommodate health care reform. he said they would have to go ahead and use many more part-time workers because obamacare was simply too expensive. there was a big backlash against that. so he is going to have to go ahead and, as a result, they are going to keep full-time workers on. they're stuck with the cost of obamacare. he also said, they're having a tough time, people aren't coming into the restaurants because the economy is bad. so in my mind he spoke out. he got punished for it. at the same time the economy is terrible. he is really struggling. at the end of the day he will not hire more peo
development in the oil patch. >> it will be really nice to talk about something other than the fiscal cliff. i will say that. >> jobs. that's right. >> 25 minutes past the hour. the republican party needs some new younger blood say some pundits. are these the new leaders of the gop, paul ryan, marco rubio, could they already be on the campaign trail? bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of
and house speaker john boehner are talking again with 20 days to go until the fiscal cliff. major garrett is at the white house watching all the negotiations. major, good morning. >> reporter: well, good morning, norah, charlie, and gayle. lots of activity and where there's activity there's hope but not a lot of progress. speaker boehner and president obama talked by tell phone. i'm told the phone call did not go particularly well and they remain divided. they're going to allow business to go on until december 28th. the president remains confident a deal will get done. on monday the president gave republican as new offer, trimming his request for ten years of income tax revenue from $1.6 trillion to $1.4 trillion. he told republicans yesterday he's willing to put tax reform into the mix of negotiations. the republicans said the president is still asking for way too much in tax revenue and they always thought corporate tax reform would be part of the larger way. it's hard to come to a deal when one side officers concessions and the other side says the concessions are
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